Change search
Link to record
Permanent link

Direct link
Publications (10 of 13) Show all publications
Haag, K., Almlöf, H., Madsen, M. B. & Neville, M. (2023). Legal Advisors and Family Business Owners: A Transaction Cost Understanding of “the Ownership Contract”. Family Business Review
Open this publication in new window or tab >>Legal Advisors and Family Business Owners: A Transaction Cost Understanding of “the Ownership Contract”
2023 (English)In: Family Business Review, ISSN 0894-4865, E-ISSN 1741-6248Article in journal (Refereed) Epub ahead of print
Abstract [en]

Family business owners are dependent on legal advice to control ownership changes and uphold a functional balance between owners. This advice spans both family law and business law. However, family business owners are found to underutilize the legal instruments available, especially for small- and medium-sized enterprises. We explore the market for legal advice provided to family business owners. Our findings describe specific ownership costs that decrease owners’ willingness and ability to contract. This avoidance of ex ante costs puts the owners at risk of extensive ex post costs that could ultimately jeopardize the business.

Place, publisher, year, edition, pages
Sage Publications, 2023
Keywords
advisors, family business, legal advice, ownership costs, ownership regulation
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-63286 (URN)10.1177/08944865231217882 (DOI)001133445000001 ()2-s2.0-85180908974 (Scopus ID)HOA;intsam;926165 (Local ID)HOA;intsam;926165 (Archive number)HOA;intsam;926165 (OAI)
Funder
The Jan Wallander and Tom Hedelius FoundationTore Browaldhs stiftelse
Available from: 2024-01-10 Created: 2024-01-10 Last updated: 2024-01-15
Almlöf, H. & Sjögren, H. (2023). Owner-manager when death do us part - roles of a widow in sudden succession in family firms. Journal of Family Business Management, 13(2), 432-452
Open this publication in new window or tab >>Owner-manager when death do us part - roles of a widow in sudden succession in family firms
2023 (English)In: Journal of Family Business Management, ISSN 2043-6238, E-ISSN 2043-6246, Vol. 13, no 2, p. 432-452Article in journal (Refereed) Published
Abstract [en]

Purpose

This study sheds light on a hitherto understudied group in family business literature: widows. We explore the roles a widow may take following the unexpected death of her owner-manager spouse when she had no salient role in the business prior to the death.

Design/methodology/approach

We used a qualitative approach to research, to study inductively the roles considered and taken by three widows who unexpectedly succeeded as owners of Swedish privately held family firms. We conducted semi-structured interviews with widows and children in top management.

Findings

We construct a typology of four main roles a widow can take and analyse the underlying dimensions that they represent. We also analyse to which extent the choice of role widow can be explained by psychological ownership and double-loss theory. The typology can be used as a tool for family business owners and their advisors as the basis of an open and non-prejudiced discussion of the choices available to a widow.

Originality/value

We have investigated the factors that influence a widow's decision whether to take over the business or not, as suggested in previous research by, for example, Martinez et al. (2009). We explore the roles a widow can consider and adopt. The study advances our understanding of how businesses can remain as family firms also in the event of the unexpected death of an owner-manager (De Massis et al., 2008). We hereby contribute to the literature on sudden successions and on women in family businesses.

Place, publisher, year, edition, pages
Emerald Group Publishing Limited, 2023
Keywords
Family dynamics, Widow, Sudden succession, Sudden death, Psychological ownership, Double-loss theory
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-52676 (URN)10.1108/JFBM-01-2021-0006 (DOI)000649034200001 ()2-s2.0-85106209674 (Scopus ID)HOA;;745513 (Local ID)HOA;;745513 (Archive number)HOA;;745513 (OAI)
Funder
Marianne and Marcus Wallenberg FoundationThe Jan Wallander and Tom Hedelius FoundationTore Browaldhs stiftelse
Available from: 2021-06-03 Created: 2021-06-03 Last updated: 2023-05-30Bibliographically approved
Almlöf, H. & Bjuggren, P.-O. (2019). A regulation and transaction cost perspective on the design of corporate law. European Journal of Law and Economics, 47(3), 407-433
Open this publication in new window or tab >>A regulation and transaction cost perspective on the design of corporate law
2019 (English)In: European Journal of Law and Economics, ISSN 0929-1261, E-ISSN 1572-9990, Vol. 47, no 3, p. 407-433Article in journal (Refereed) Published
Abstract [en]

For the corporate business model to be successful, it is important to align the interests of those who control and finance the firm. Corporate law has here an important task to fulfill. It offers a legal framework that can facilitate parties to conclude mutually preferable agreements at low transaction costs. The purpose of this paper is to show how to design corporate law to fulfill this task and apply this knowledge to a Swedish case. A two-dimension model that simultaneously considers both the regulation intensity and the level of default of corporate law is presented. The earlier literature treats these dimensions separately. By adding a transaction cost perspective to our model, we assess different regulatory techniques and examine how the Swedish legislation can be amended to help corporations by offering a standard contract that lowers the transaction costs of contracting. This can be achieved if default rules or standards of opt-out character are combined with other regulatory techniques with lower transaction costs such as opt-in alternatives and menus. We also show how our model can be used in other studies as a tool to analyze the design of legal rules. 

Place, publisher, year, edition, pages
Springer, 2019
Keywords
Contracts, Corporate law, Regulation, Transaction costs
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-44463 (URN)10.1007/s10657-019-09620-x (DOI)000474421000005 ()2-s2.0-85068798427 (Scopus ID)HOA;;1324321 (Local ID)HOA;;1324321 (Archive number)HOA;;1324321 (OAI)
Funder
Vinnova
Available from: 2019-06-13 Created: 2019-06-13 Last updated: 2021-02-26Bibliographically approved
Haag, K., Almlöf, H. & Baù, M. (2019). Disentangling ownership transfer. In: : . Paper presented at International Family Enterprise Research Academy (Ifera) 17-21 of June, Bergamo, Italy.
Open this publication in new window or tab >>Disentangling ownership transfer
2019 (English)Conference paper, Oral presentation with published abstract (Refereed)
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-47076 (URN)
Conference
International Family Enterprise Research Academy (Ifera) 17-21 of June, Bergamo, Italy
Available from: 2019-12-13 Created: 2019-12-13 Last updated: 2019-12-13Bibliographically approved
Madsen, M. B., Neville, M., Almlöf, H. & Haag, K. (2019). Ejerskabsdynamik i SMV’er: Et svensk/dansk projekt om problemer og løsningerved ændringer i ejerkredsen. Nordisk Tidsskrift for Selskabsret (4), 73-96
Open this publication in new window or tab >>Ejerskabsdynamik i SMV’er: Et svensk/dansk projekt om problemer og løsningerved ændringer i ejerkredsen
2019 (Danish)In: Nordisk Tidsskrift for Selskabsret, ISSN 1399-140X, no 4, p. 73-96Article in journal (Other academic) Published
Abstract [en]

During their lifecycle, many small and medium sized enterprises (SMEs) experience changes in the group of owners. New research shows that such changes are likely to give rise to issues that might affect the cooperation between the owners and the development of the company in a negative direction. As SMEs are considered ‘the backbone of Scandinavian economy’, such negative effects might also have a socio-economic impact. Therefore, it is important to take precautionary measures against the emergence of these issues as well as establishing appropriate solutions should they arise nonetheless. The present article commences a new interdisciplinary research project ‘Ownership Dynamicsin SMEs’ carried out by Center for Small and Medium Sized Enterprises in Denmark and Centre for Family Enterprise and Ownership in Sweden. The objective of the project is to generate deep knowledge on ownership dynamics in SMEs and on the complexity of the various types of ownership changes. Based on this knowledge, the three Cs (Control, Consensus and Compromise), that are identified in the article, are used as the foundation to develop guidelines and tools targeted at the three phases in ownership changes, which will be made available to SMEs. The project will also analyse if a gap exists between the regulatory need of SMEs that is identified using qualitative and quantitative studies and the paradigms applied in practice. Based on the result of this analysis, proposals for gap-filling provisions etc. will be developed.

Place, publisher, year, edition, pages
DJØF Forlag, 2019
Keywords
Ejerskabsdynamik, udvidelse af ejerkredsen, ejeraftaler
National Category
Law (excluding Law and Society)
Identifiers
urn:nbn:se:hj:diva-48025 (URN)
Projects
Ägardynamik i ägarledda aktiebolag - orsaker, effekter, reglering
Funder
The Jan Wallander and Tom Hedelius Foundation, P2017:0044:1
Note

Den danske del af projektet er støttet af Dreyers Fond og den svenske del af Jan Wallanders och Tom Hedelius Stiftelse samt Tore Browaldhs Stiftelse.

Available from: 2020-01-06 Created: 2020-03-30Bibliographically approved
Almlöf, H. (2018). Aktiebolagsrätt i domstol: En rättsfallsstudie. Juridisk Tidskrift, 2017/18(4), 785-801
Open this publication in new window or tab >>Aktiebolagsrätt i domstol: En rättsfallsstudie
2018 (Swedish)In: Juridisk Tidskrift, ISSN 1100-7761, E-ISSN 2002-3545, Vol. 2017/18, no 4, p. 785-801Article in journal (Other academic) Published
Abstract [sv]

I artikeln presenteras en rättsfallskartläggning över bolagsrättsliga domar vid Högsta domstolen eller hovrätterna i under 2013-2017. Studien visar bland annat att oaktat var du bor i Sverige är det lika stor sannolikhet för en aktiebolagsrättslig tvist, att talan i drygt hälften av målen riktas mot styrelseledamöter och att så mycket som en tredjedel av rättsfallen handlar om bolagsledningens personliga betalningsansvar. Studien ger också anledning att diskutera förekomsten och nyttan av empiriskt material inom rättsvetenskapen.

Place, publisher, year, edition, pages
Stockholm: Stockholms Universitet, Juridiska Institutionen, 2018
Keywords
aktiebolagsrätt rättsfall
National Category
Law (excluding Law and Society)
Identifiers
urn:nbn:se:hj:diva-40771 (URN)
Projects
Minoritetsskydd i ägarledda aktiebolag
Funder
Ragnar Söderbergs stiftelse, RP7/15]
Available from: 2018-05-23 Created: 2018-06-25Bibliographically approved
Haag, K., Almlöf, H. & Neville, M. (2018). Legal advice for family business owners: A fragmented market and neglect of family law. In: A. Van Gils, I. Matser & J. Kotlar (Ed.), IFERA 2018 Conference Proceedings: . Paper presented at The International Family Enterprise Research Academy (IFERA) 2018, July 3-6, Zwolle, The Netherlands (pp. 74-74).
Open this publication in new window or tab >>Legal advice for family business owners: A fragmented market and neglect of family law
2018 (English)In: IFERA 2018 Conference Proceedings / [ed] A. Van Gils, I. Matser & J. Kotlar, 2018, p. 74-74Conference paper, Oral presentation with published abstract (Refereed)
National Category
Business Administration Law
Identifiers
urn:nbn:se:hj:diva-41815 (URN)978-90-77901-92-2 (ISBN)
Conference
The International Family Enterprise Research Academy (IFERA) 2018, July 3-6, Zwolle, The Netherlands
Available from: 2018-10-10 Created: 2018-10-10 Last updated: 2018-10-10Bibliographically approved
Haag, K., Almlöf, H. & Neville, M. (2018). Protection of ownership and facilitation of exit: what legal advice are family business owners receiving?. In: : . Paper presented at 14th EIASM Workshop On Family Firm Management Research, Larnaca, Cyprus, May 17-19, 2018. European Institute for Advanced Studies in Management (EIASM)
Open this publication in new window or tab >>Protection of ownership and facilitation of exit: what legal advice are family business owners receiving?
2018 (English)Conference paper, Published paper (Refereed)
Place, publisher, year, edition, pages
European Institute for Advanced Studies in Management (EIASM), 2018
National Category
Business Administration Law
Identifiers
urn:nbn:se:hj:diva-41817 (URN)
Conference
14th EIASM Workshop On Family Firm Management Research, Larnaca, Cyprus, May 17-19, 2018
Available from: 2018-10-10 Created: 2018-10-10 Last updated: 2018-10-10Bibliographically approved
Almlöf, H. (2017). När dispositiva lagregler blir tvingande: om behov av kreativitet i det aktiebolagsrättsliga lagstiftningsarbetet. Svensk Juristtidning (1), 9-22
Open this publication in new window or tab >>När dispositiva lagregler blir tvingande: om behov av kreativitet i det aktiebolagsrättsliga lagstiftningsarbetet
2017 (Swedish)In: Svensk Juristtidning, ISSN 0039-6591, no 1, p. 9-22Article in journal (Other academic) Published
Abstract [sv]

Genom dispositiv lagstiftning erbjuds en flexibilitet för parter som finner att lagens utgångspunkt inte passar deras kontrakt. Forskning visar dock att dispositiviteten många gånger inte utnyttjas. I denna artikel diskuteras ekonomiska och psykologiska skäl till varför aktieägare avstår från att avtala bort bolagsrättsliga regler, trots att andra lösningar hade passat deras företag bättre. Det sagda får till följd att dispositiva aktiebolagsrättsliga lagregler likväl blir tvingande och sättet för lagstiftaren att bemöta detta är genom att överväga en annan regleringsteknik.

Place, publisher, year, edition, pages
Svensk juristtidning, 2017
National Category
Law (excluding Law and Society)
Identifiers
urn:nbn:se:hj:diva-40772 (URN)
Available from: 2018-06-25 Created: 2018-06-25 Last updated: 2018-06-25Bibliographically approved
Almlöf, H. (2016). Mot en djupare förståelse av aktiebolagsrättens utformning. Nordisk Tidsskrift for Selskabsret (2-3), 108-122
Open this publication in new window or tab >>Mot en djupare förståelse av aktiebolagsrättens utformning
2016 (Swedish)In: Nordisk Tidsskrift for Selskabsret, ISSN 1399-140X, no 2-3, p. 108-122Article in journal (Other academic) Published
Abstract [sv]

I denna artikel presenterar hon en del av det regleringsteoretiska angreppssätt som används i studien och argumenterar för hur ökad kunskap om regleringstekniska verktyg kan leda till en djupare förståelse av aktiebolagsrättens utformning.

Place, publisher, year, edition, pages
Djøf Forlag, 2016
National Category
Law (excluding Law and Society)
Identifiers
urn:nbn:se:hj:diva-40773 (URN)
Available from: 2017-02-23 Created: 2018-06-25Bibliographically approved
Organisations
Identifiers
ORCID iD: ORCID iD iconorcid.org/0000-0002-8012-2635

Search in DiVA

Show all publications